December 18, 2018 / 5:53 PM / 6 months ago

World Bank ok's $750 million loan guarantee for Ukraine: Poroshenko

Ukraine's President Petro Poroshenko speaks during the news conference in Kiev, Ukraine December 16, 2018. REUTERS/Valentyn Ogirenko

KIEV (Reuters) - The World Bank has approved a $750 million loan guarantee for Ukraine, President Petro Poroshenko said on Twitter on Tuesday, calling it proof of his nation’s “tangible progress on the reform path.”

The World Bank, International Monetary Fund and other bodies support Ukraine with loan agreements conditional on Kiev passing reforms and tackling corruption. The IMF executive board was expected to meet later on Tuesday to approve a new stand-by loan deal for Ukraine worth $3.9 billion.

Reporting by Matthias Williams; Editing by Andrew Cawthorne

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